TLDR:
- XRP price approached $1.05 as Santiment counted around 343,500 wallets holding at least 10,000 tokens, despite prolonged selling.
- Qualifying wallets increased by 16,815, or 5.15%, over nine months. XRP fell roughly 30% during a separate seven-week period.
- The November 10 futures reading showed funding near 10.4% annualized. Open interest declined 6.73% over 24 hours to $328.5 million.
- Santiment identified $1 as key support and outlined a conditional 1.10–1.15 recovery, requiring wallet growth and Bitcoin stability.
According to Santiment, XRP price approached $1.05 on November 11 as wallets holding at least 10,000 tokens increased. The analytics firm counted roughly 343,500 qualifying wallets, despite a prolonged decline in the token.
The overall tally rose by 16,815 over nine months, representing growth of 5.15%. Over a different period, XRP lost approximately 30% during seven weeks.
Santiment views the divergence as possible accumulation by larger holders. Meanwhile, futures figures show positive funding alongside falling open interest. The contrasting signals leave $1 support in focus. Any recovery depends on stronger buying demand and steadier conditions across the broader cryptocurrency market.
XRP Price Nears $1 as 10K Wallet Count Reaches 343,500
Santiment interprets the increase as evidence that some larger holders continue building exposure during market weakness. Its XRP accumulation argument rests on rising wallet numbers while the XRP price moves lower.
Different measurement windows matter. Nine months of wallet growth cannot identify purchases during weeks of the recent decline. A falling XRP price can therefore coexist with an expanding address group. These totals cannot establish transfer dates or distinguish purchases from internal movements.
However, the count tracks addresses above a balance threshold. It does not establish how many separate investors bought tokens or how much money entered the market. One holder can control several addresses, while exchanges can hold customer balances in shared accounts.
For example, moving 20,000 XRP from one wallet into two 10,000-token wallets raises the qualifying count by one. That transfer leaves the combined balance unchanged. This illustrates why wallet growth alone cannot measure net purchases.
At $1.05, the minimum qualifying balance represents approximately $10,500. The category therefore includes a broad range of holders, extending beyond institutions.
Santiment identifies $1 as the main level to defend. It sees a potential recovery toward 1.10–1.15 if wallet growth continues, XRP holds support, and Bitcoin stabilizes.
From $1.05, those levels imply gains of roughly 4.8% and 9.5%, respectively. Whether the XRP price reaches either level depends on subsequent trading.
Losing $1 while wallet growth reverses would weaken the XRP accumulation case, according to the firm. Santiment also anticipates a possible bounce after an initial selloff, although its post gives no precise timing.
Funding Stays Positive as Futures Open Interest Declines
According to Coinglass, the XRP funding rate stood at 0.0095% per eight hours, equivalent to about 10.4% annualized.
Open interest fell 6.73% over 24 hours to $328.5 million, while the mark price was $1.06. The account breakdown showed 74.4% long positions and 25.6% short positions.
Those percentages measure accounts, rather than the value of positions held on each side. They therefore cannot establish that 74.4% of invested capital supports rising prices.
Positive funding requires long traders to pay short traders. Annualizing that rate assumes it persists; actual payments change as funding rates adjust. The annualized figure represents a funding cost comparison, rather than an investment return.
The XRP price therefore faces a market where bullish positioning coexists with reduced reported futures exposure. That combination suggests remaining long traders face carrying costs while price momentum stays weak.
Dollar-denominated open interest can fall when the underlying asset loses value, even without an equivalent reduction in contract numbers. Distinguishing closed positions from valuation changes requires additional contract or token-denominated figures.
The report covered Bitcoin, Ether, Solana, Dogecoin, and XRP. Bitcoin alone recorded higher open interest, rising 0.42% to $7.36 billion. Its funding rate reached 0.0073% per eight hours, or roughly 8% annualized. tokenpost.com
A positive XRP funding rate does not establish that new demand can sustain the XRP price. The November 10 derivatives readings also precede Santiment’s November 11 wallet update, limiting direct comparisons between the two observations.
